$ONDO There’s a part that doesn’t quite add up: over 30 days, it rose from 0.31 to 0.415, then went back to today’s 0.353. The market cap ranks #43, yet today it’s almost flat—24h movement is only 0.43%, while volume is still 89.4 million. This isn’t a dead pool with nobody playing; someone is repeatedly churning around 0.35.
What really stands out are those two days, July 16 to 17: trading volume suddenly surged from the 50 million level to 260 million, but the price only moved from 0.31 to 0.36. The magnitude of the rally doesn’t match that volume. Then over the next 10 days it ground up to 0.415, before dropping another 15%. Throughout the entire pullback, the volume never shrank—on August 5 it was still 113 million.
So now the chart offers two interpretations. Which one do you choose?
One: the massive volume in mid-July was about accumulation and turnover; below 0.35 is the cost area. This pullback is just shaking out floating positions. When volume expands again, that will be the start of the second wave. The other: 0.37 to 0.41 is the profit-taking concentration zone; the massive volume is distribution. It hasn’t finished falling yet, and volume hasn’t shrunk only because retail traders are still absorbing.
My view leans toward the first one, for a simple reason: after the ATH fell 83%, it can still put out this kind of volume at 0.31—it doesn’t look like a purely “escaping” pattern. But to confirm it, we need to see whether the 0.34–0.35 area can halt the move on reduced volume, and then whether it can bring back volume to reclaim 0.38.
If it breaks below 0.34 and volume increases again, then the script above is invalid—the next observation point becomes a retest of 0.31, or even lower. Do you believe in accumulation, or do you believe in distribution?
What really stands out are those two days, July 16 to 17: trading volume suddenly surged from the 50 million level to 260 million, but the price only moved from 0.31 to 0.36. The magnitude of the rally doesn’t match that volume. Then over the next 10 days it ground up to 0.415, before dropping another 15%. Throughout the entire pullback, the volume never shrank—on August 5 it was still 113 million.
So now the chart offers two interpretations. Which one do you choose?
One: the massive volume in mid-July was about accumulation and turnover; below 0.35 is the cost area. This pullback is just shaking out floating positions. When volume expands again, that will be the start of the second wave. The other: 0.37 to 0.41 is the profit-taking concentration zone; the massive volume is distribution. It hasn’t finished falling yet, and volume hasn’t shrunk only because retail traders are still absorbing.
My view leans toward the first one, for a simple reason: after the ATH fell 83%, it can still put out this kind of volume at 0.31—it doesn’t look like a purely “escaping” pattern. But to confirm it, we need to see whether the 0.34–0.35 area can halt the move on reduced volume, and then whether it can bring back volume to reclaim 0.38.
If it breaks below 0.34 and volume increases again, then the script above is invalid—the next observation point becomes a retest of 0.31, or even lower. Do you believe in accumulation, or do you believe in distribution?